Huge Upside in Commodities - Goldman
Tweet
Share
E-mail
Goldman Sachs analysts are becoming increasingly optimistic about commodities. In a report today, analysts at the bank said they expect a 29 percent return from the Standard & Poor's GSCI Enhanced Commodity Index over the next 12 months.
They commented that commodity price risks are "shifting more to the upside," and the bank is "moving back to a near-term overweight recommendation," preferring crude oil, gas, copper, aluminium and gold.
GSCI Commodity-Indexed Trust ETF (GSG) is down over 12 percent year to date. Other commodity ETFs have also been under pressure, with gold (NYSE: GLD) lower by 6.26 percent in three months and USO, which tracks crude oil, lower by over 20 percent in the same period.
They commented that commodity price risks are "shifting more to the upside," and the bank is "moving back to a near-term overweight recommendation," preferring crude oil, gas, copper, aluminium and gold.
GSCI Commodity-Indexed Trust ETF (GSG) is down over 12 percent year to date. Other commodity ETFs have also been under pressure, with gold (NYSE: GLD) lower by 6.26 percent in three months and USO, which tracks crude oil, lower by over 20 percent in the same period.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Crude Inventory Fell 7.2 Million Barrels Last Week, Says EIA
- Enbridge receives noteholder approval for debt exchange transaction
- Enbridge Inc. and Enbridge Pipelines Inc. Announce Noteholder Approval of Proposed Debt Exchange Transaction
Create E-mail Alert Related Categories
Commodities, ETFsRelated Entities
Crude OilSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
